[quote=“briantinnion”]I’ve always been in a VHI scheme, my old pair had paid it for me up until last year but seeing as I had been working full time for four years and haven’t lived at home in 8 years it was time to start paying my own way. Comes straight out of my salary every month so don’t really notice it. Have the option to go with Quinn, Vivas or VHI, there’s probably a price difference in them but I can’t be arsed doing it.
On the pension side I can’t be bothered putting into some investment fund run by a guy who might as well be throwing darts at a board to pick the stocks. It was funny watching the George Lee documentary “How we blew the boom” to see some of the experts declare that we were going to have a soft landing and that there was no problems with our banks, it just goes to show that no one knows where the markets are going. Most pension schemes offered to workers in Ireland are a pile of sh!te, you get about three/four options to invest. The only thing you can do is to have a diversified portfolio of investments, for example split your investments into equities (and within that different types of equities), commodities, property, debt securities and after that it’s up to the market what you end up with. All that is easily achieved through selecting investment funds yourself.
No intention of doing it myself just yet though.[/quote]
Pensions are a long term investment.
30 years of a long term investement.
Personally I have mine now in 100% global equity on the basis that you can buy units of equity now for very cheap.
It’s also a handy way of saving if you want to put it into something like a secure performance fund earning 5% or more guaranteed but linked to managed consensus funds so it can be much better than 5%.
You get relief on it so if you’re paying the higher rate of tax you get this money out and into the pension before the tax is taken, so if you put 1k a month into the pension you woudl only be getting 1k-40+ % if you wanted to keep the money, so in effect you’re already up money.
Yours in pensions,